Put a Price on Carbon

Recently the National Round Table on Environment and the Economy (NRTEE) released its report calling on aggressive action to fight climate change. According to NRTEE we need to put a price on carbon. A cap-and-trade system is one of the options gaining support. The cap-and-trade system forces large Canadian companies to either reduce their emissions to levels required under the Kyoto Protocol or spend significant money on Canadian projects that have the effect of reducing greenhouse gas emissions.

Strategy on Energy and Climate Change

Canada's National Round Table on Environment and the Economy (NRTEE) has published an interesting list of strategies to reduce greenhouse gases. The publication is called, "Advice on a Long-term Strategy on Energy and Climate Change". The modified list is give below.

1. Energy Efficiency & Conservation
2. Co-generation & Fuel Switching
3. Carbon Capture & Storage (CCS)
4. Nuclear
5. Renewable Electricity
6. Bio-fuels & Alternative Fuels
7. Sinks like forest plantations, and conservation tillage

NOTE: This list is also discussed and analyzed in a paper by Paul D. Hunt, Vice President of Climate Change Central (see posting below, “New Book on Energy & the Environment”)

The list has similarities compared to the document published by the Society of Energy Professionals called, “The Getting It Right Plan”. The Society’s document covers the electricity needs in the Province of Ontario to 2025, while the NRTEE covers greenhouse-gas-emission-reduction strategies to 2050.

Unfortunately, on electric space heating and water heating, NRTEE does not consider the hugh potential of off-peak electricity. In addition, they significantly discounted the ability of heat pumps to delver economic space heating and cooling in conjunction with low-temperature district heating (LTDH).

The ability of the electricity sector to displace traditional oil and gas consumption will depend on producing affordable and reliable electricity with low environmental impact, compared to oil and gas.